Visa (NYSE: V), a global leader in digital payments, has signed a memorandum of understanding with the Philippine Postal Corporation (PHLPost) aimed at expanding access to financial services for Filipinos, particularly those in underserved sectors such as rural communities.
Under the agreement, Visa will utilize its innovation in digital payments as well as its global payments network to explore opportunities with PHLPost in modernizing and expanding the reach of its financial services, which include handling remittances and money orders for overseas Filipino workers (OFWs) as well as disbursement of healthcare subsidies, social welfare payments, and disaster relief.
Visa and PHLPost will also explore opportunities to enhance business and financial literacy for Micro, Small, and Medium Enterprises (MSMEs), as well as share best practices in making financial transactions more seamless, secure, and accessible.
The PHLPost remains committed to providing essential postal and financial services to Filipinos, especially those in remote and or Filipinos abroad. Through this collaboration with Visa, PHLPost aims to enhance its financial offerings by integrating digital payment solutions, improving transaction efficiency, and ensuring greater security for its customers through good governance. By modernizing its services, PHLPost seeks to bridge the financial gap for communities that rely on its extensive network across the country.
From Left: Atty. Benjie Yotoko, Assistant Postmaster General for Operations, PHLPost; Luis Carlos, Postmaster General, PHLPost; Jeffrey Navarro, Country Manager, Visa Philippines; Bella Lai, Regional Head for Southeast Asia, Visa Government Solutions, Visa
About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payment network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.
About PHLPost
The Philippine Postal Corporation (PHLPost) is the country’s primary postal service provider, offering mail and parcel delivery, logistics solutions, and financial services. With a nationwide network of post offices, PHLPost plays a crucial role in connecting communities, supporting businesses, and delivering government services, including money transfers and remittances. As it continues to modernize its operations, PHLPost remains dedicated to enhancing accessibility and efficiency in financial services for all Filipinos. Learn more at www.phlpost.gov.ph.
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